Target Faces Boycott: 200 Days Without DEI, Financial Impact Grows

Core Insights - Target's decision to end its diversity, equity, and inclusion (DEI) programs has led to a prolonged boycott, significantly impacting the company's sales and stock value [1][4][19] Boycott Overview - The boycott, initiated by Black clergy and supported by civil rights organizations, has been ongoing for over 200 days and has gained traction with the involvement of groups like the American Federation of Teachers [1][6][8] - The boycott's demands include a $250 million commitment to Black-owned banks, support for historical Black colleges, honoring a previous $2 billion commitment to Black entrepreneurs, and a reimagining of DEI initiatives [9][13] Financial Impact - Target reported a 3.8% decline in comparable sales in the first quarter and a 1.9% decline in the second quarter, with foot traffic decreasing for 11 consecutive weeks [2][10][11] - The company's stock has dropped 33% since the DEI rollback, resulting in a loss of over $20 billion in shareholder value [4][12] - Target's market capitalization fell from approximately $129 billion in 2021 to around $41.6 billion, with annual revenue projections decreasing from $107.4 billion to $106.6 billion [12][14] Leadership Changes - CEO Brian Cornell resigned in August 2025, reflecting the severity of the crisis, and was succeeded by COO Michael Fiddelke [4][18] - The leadership change comes amid broader economic challenges, including tariffs and a declining consumer base [18] Consumer Sentiment - The backlash against Target's DEI rollback is notable for its sustained momentum, with activists emphasizing the importance of consumer spending power among Black communities [6][7][19] - The boycott has highlighted a shift in consumer activism, indicating that companies may face significant consequences for reversing DEI commitments [19]